New Markets Tax Credit Program Manager
We are hiring a New Markets Tax Credit Program Manager. NMSC delivers creative financing solutions to empower underserved communities across the country. We increase access to capital by tailoring our products and services to meet the needs of our clients and partners. Over the past 15 years, we’ve invested more than $900 million into real estate developments and businesses in distressed communities.
NMSC is a wholly-owned subsidiary of the Local Initiatives Support Corporation (LISC), one of the country’s largest community development organizations. We closed our first NMTC transaction on behalf of LISC in 2004. Since then, we’ve expanded our services to include NMTC services for other allocates, fund management, and business financing. This position is in Chicago.
- Identify, evaluate, and manage a pipeline of NMTC financing opportunities with a focus on long-term project viability and generation of significant community impacts.
- Independently manage the origination process for community development projects seeking NMTC financing.
- Evaluate potential NMTC transaction opportunities to determine whether they comply with NMTC program requirements, meet LISC community development priorities, and are financially viable.
- Structure NMTC transactions according to established underwriting guidelines and pricing parameters, working through risk issues with the Senior Vice President.
- Generate spreadsheet models analyzing project feasibility, pro-forma cash flow, and project budgets. Understand fund structure and upper tier model.
- Assist in underwriting NMTC transactions with a focus on the review and analysis of construction budget, operating pro-forma, appraisals and market studies and developer financial and development capacity.
- Coordinate the closing of each NMTC transaction to ensure that all information, data, and documentation required by the LISC NMTC program is obtained as part of the external closing checklist.
- Participate in transaction closing calls as LISC’s NMTC representative and work with LISC’s legal counsel to coordinate the resolution of legal issues.
- Negotiate business terms as a partner in the development with the sponsor to add value in developing a viable, sustainable property as a long-term investment in the community.
- In conjunction with the New Markets SVP, effectively communicate with and manage local LISC program relationships; communicate underwriting criteria and processes, elicit assistance in marketing, collecting quality information from developers/sponsors.
- Manage the preparation of LISC’s NMTC application and support efforts to prepare NMTC applications for other CDEs.
The ideal candidate will have an undergraduate or graduate degree in business, economics, urban planning, or finance. Three years of community development experience, including commercial real estate transaction experience, credit and structuring. Origination and closing experience preferred. Knowledge of or experience with complex financing structures, other tax credit programs, community facility loans or investments, and small business lending preferred. Skill sets must include superior oral/written communication, ability to work on numerous projects at the same time, strong analytical abilities, and proficiency in Excel, knowledge and practical understanding of non-profit community development and commitment to working with diverse, low-income communities. Minimum travel of 25% required.
We offer a competitive salary, along with a comprehensive benefits package.
Submit resume and cover letter with salary requirements via email to Robert Poznanski at email@example.com.
NMSC IS AN EQUAL OPPORTUNITY EMPLOYER